.jpg)
Grappling with high input costs and sluggish market demand, domestic steel companies have resorted to price hike to maintain their margins. All the major integrated steel producers have raised the prices by R1,000-R2,000 per tonne for various grades of steel beginning this month.
The hike has come at a time when the country's industrial growth has slowed down on weak demand, forcing downward revision in prices in several other sectors.
According to a steel company official, prices of hot-rolled coils (HRC) have gone up in the range of R1,000 to R1,200, while that of cold-rolled coils (CRC), used largely by the white goods industry, and hot-dipped galvanised steel are up by R500-R1,500 and R1,000-2,200, respectively.
Tata Steel spokesperson said the company was yet to finalise any price hike.
The official said Steel Authority of India (SAIL), Tata Steel and Essar Steel were among the first ones to go for price hikes, while others may follow suit soon. Officials from SAIL were not available for comment
Leave a Reply